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  1. I took out a secured loan (2nd Mortgage) with FP in 2005 for £55,000 they added PPI £13,469.50. The grand total = £68,469.50 WOW. This was a 20 year term to consolidate debts following an extension and a rogue builder. Looking back I can't believe that I did this but hindsight = 20/20 vision and all that. The house and mortgage is in my name but FirstPlus adviser told me that I stood better chance of getting the loan if my partner was on the loan. I reclaimed the PPI through the FOS in around 2008 and FOS ordered them to restructure the loan and put it back into a position that I would have been without the PPI. In the early days there have been a couple of late payments and a payment holiday which I know would have attracted charges and interest. I went back to FOS and complained that I believed that my partners name should not be on the loan as she was unemployed at the time and has no way of picking up the payments should something happen to me but I was unsuccessful: a) because I'd left it too long to complain and b) FP needed to protect their debt and have someone else to go after. I asked for settlement figure recently and have been told that there is 5 years left and £35,000 more to pay??? I think I remember that the total amount paid back was going to be around £80K but again could be wrong. Math's isn't my strong point but I would have paid them at least £120,000 which is a lot more than the principle sum and what I think I was told when taking out the loan. I remember also being told it would be a fixed interest rate. I can't find the original contract and terms so could be wrong on all counts. The tapes would be an interesting listen should they provide them. I have done a SAR and I'm waiting for it's arrival but I think that there is something fishy going on. I also believe that it may have been miss sold due to their 'lies' at the beginning regarding my partner and the PPI. I have searched this and other forums and there are threads that start but there is no conclusion so quite lost as to what I should be looking out for when I receive the paperwork(disc) and any advice would be really useful.
  2. They want to Evict me,can you help. Can someone please advise what I can do to stop Elderbridge (company that purchased from Barclays, all Firstplus accounts) evicting me from my house, I have received a letter today from Elderbridge stating that they are instructing their solicitors (Eversheds) to ask the court to set a date for Elderbridge to take possession of my property. What I want to know is if they can do this as the original repossession order was granted to Firstplus who have gone bust (and then taken on by Barclays as they were the bank that set up Firstplus) Last year Barclays sold my outstanding account to Elderbridge, does that mean that they automaticity have the right to use the suspended repossession order to start eviction process? If yes how do I contact the courts to stop this eviction and make payments to this new company Elderbridge. Account Balance £64,809.59 Arrears Balance £64,722.09 how can Firstplus, Barclays have let my arrears get so high and charge me 7.8% intrest, I have asked all of the above to stop charging interest but have all refused.
  3. This post is relevant to all customers who have a secured loan with Barclays Firstplus. I know secured loans are a dirty word but a lot of people have them rightly or wrongly. Last month, a customer of Firstplus has had a judge rule that the interest rate variation clause within their agreement was unfair, citing 5(1) of the Unfair Terms in Consumer Contract Regulations. Specifically this states Unfair Terms 5. (1) A contractual term which has not been individually negotiated shall be regarded as unfair if, contrary to the requirement of good faith, it causes a significant imbalance in the parties' rights and obligations arising under the contract, to the detriment of the consumer. The judge ruled that the contract could continue but the right the vary the interest rate was removed, reverting the loan to a fixed rate as at inception. As it stands Barclays have not appealed the decision, and as this decision has been made in a lower court it is not precedent setting. Is it cynical to opine this is why no appeal has been forthcoming????? A group of us have been battling the regulators for years arguing this very point, i.e. that the right to vary has been misused and is fundamentally unfair. The OFT presumably found fault back in 2010 as they issued a CCA section 33a reprimand, however legally they have no retrospective impact, and amazingly the OFT wont tell customers what exactly the reprimand was for, and I quote, "because it would harm the commercial interests of Barclays if they did". Long story, not going there with that one. What customers need to do now is ask Firstplus and the regulators what they intend to do about this legal ruling. The clause has now been ruled unfair. There are over 50,000 customers with the exact same clause. ALL are paying more than they were at inception. An example of the potential financial impact. My APR started at 8.4%, it is now 9.2%. A retrospective realignment to a fixed rate of 8.4% would reduce my liability by £8,000. I have drafted a note below if anyone needs to cut and paste, but whether you use this, or draft your own, it is in your own interest to challenge the ongoing profiteering. The FOS, the OFT and the FCA have all received a copy of the court judgement, however as it stands none will commit to doing anything about it. Something like this should do. Please send to: Firstplus - customercare@firstplus.co.uk THE FINANCIAL OMBUDSMAN SERVICE, complaint.info@financial-ombudsman.org.uk THE OFFICE OF FAIR TRADING, enquiries@oft.gsi.gov.uk THE FINANCIAL CONDUCT AUTHORITY. consumer.queries@fca.org.uk -------------------------- THIS NOTE IS SENT TO FIRSTPLUS, THE FINANCIAL OMBUDSMAN SERVICE, THE OFFICE OF FAIR TRADING, & THE FINANCIAL CONDUCT AUTHORITY I am writing as a dissatisfied First Plus customer. For some years now, many customers have been complaining that the interest rate variation clause(s) in First Plus secured loan agreements is unfair. The result being that all customers, including myself, are being forced to repay significantly more than could reasonably be expected when the use of their widely drawn interest rate clause is applied in an imbalanced and unfair manner. Last month, a fellow First Plus customer had a court rule that their interest rate variation clause is unfair under 5(1) of the Unfair Terms in Consumer Contract Regulations. The variation clause in question is the same clause as the one in the majority of First Plus customers agreements - namely clause 7. The key wording that is significant is as follows: "We may from time to time vary our interest rate. We may increase or decrease our interest rate to reflect a change which has occurred, or which we reasonably expect to occur in interest rates generally or to ensure that our business is carried on prudently, efficiently and competitively" [DELETE THIS NEXT BIT IF NOT RELEVANT TO YOU There is a variation of this clause that includes a reference to FHBR: "The interest rate on your account will not in any twelve month period, vary by more than twice the variation in the Finance House Base Rate published by the Finance and Leasing Association during the same period. If for any reason, the Finance and Leasing Association ceases to publish the Finance House Base Rate we may refer the variation in our interest rates to any other Base Rate which in our reasonable opinion best matches that rate." ] The key elements of the clause are detailed as above and the declaration that the wording is unfair should apply to all customers, including me. I understand a copy of the court judgement has already been sent to you. As you will have seen the judge has ruled that the contract can continue. The understanding is that the declaration of the clause being unfair would strike the clause from the contract thus disabling the ability of the lender to vary the rate with the loan reverting to the incepted APR and the loan being restructured and reset accordingly. Can Firstplus please advise whether or not it is your intention to retrospectively revert my loan to the inception rate APR and apply it as a fixed rate going forward? Can the OFT, FCA and FOS please advise me what action it intends to take against Firstplus, as I continue to suffer financially from the penal nature of the application by First Plus of their interest variation clause, which I now note to be legally unfair. I would respectfully ask that you provide a response to myself within 10 working days. Regards
  4. Hi guys, I'm new on this site, so please be gentle... I took out a £85K loan with Firstplus in 2006 for a business, unfortunately, in 2010 our main client stop paying us, and that's when the problems started. FP were great to start with and let me pay reduced payments, but the arrears built up. Eventually, they transferred the loan to a company call Redcastle (still on reduced payments) and then at the start of this years to another company called Elderbridge. I contacted a website called [removed] and the advice one of their recommended advisors gave me some bad advice. He/she said to stop paying even the reduced rates, starting various things Elderbridge had done wrong. However, it looks like it was all totally wrong. Now I have even worse arrears and Elderbridge are quite rightly threatening repossession. Thankfully, I now do have funds available to start to pay off this loan but was wondering, what I should start paying and should I try to negotiate with them, to try and get a lower figure, as I'm sure they bought the debt for a fraction of the price. Any advice would be brilliant.
  5. Hi everyone, after ignoring the loan that I took out with firstplus since I took it out I now need to take action and get rid. As they have passed on the loan I was able to get a copy of all transactions to date needless to say I want to cry! I took out the secured loan in 2004 for £40K with £8K as PPI so total loan for £48k, having just had the transaction history I have paid £77k to these people and still have £40K owing on the loan! Having read loads of posts previously and knowing how stupid and naive I have been in taking this out, I now need to take action and would appreciate any help in what I need to do first.
  6. Hello all, I successfully claimed my PPI back from FirstPlus and am now looking in to the possibility that the entire loan was missold. I recently wrote to them outlining my issues, which were: • The mortgage was not suitable for me. • The adviser did not properly establish my attitude to risk. • I was not advised that there were other options, such as a DMP, that I could have pursued. •Your adviser did not give me examples of the cost of a Capital and Repayment mortgage compared to the lower costs of an Interest Only mortgage. •When remortgaging to consolidate my debts I was not advised that it would be cheaper for me to put all of my loans, credit cards and finance onto my existing mortgage rather than remortgaging. •I was not advised that by remortgaging I was exchanging my short term debts for a long term debt by adding it to my mortgage. It was not explained to me that although I would be lowering my monthly outgoings initially, I may well be lengthening the term of my debt and vastly increasing the amount of interest that I would be paying. Loan was originally for £51K over 25 years. I then received a phonecall from FirstPLus asking to reiterate my concerns, only to be told that based on my concerns and as my loan had be through a broker I needed to contact them (Compass), if they were still trading?!, to resolve my issue. When I successfully reclaimed all my PPI, which was brokered at the same time as the loan, I went straight to Firstplus who dealt with it directly. This all sounds a bit smoke and mirrors to me, so would appreciate any advice/info you could give. Cheers
  7. Quick outline of case first. My girlfriend had a secured second load taken out with Firstplus about 9 years ago in joint names with her and her then husband for his debts (yes she is aware this was not ideal) they then split not long after. She has continued to pay this debt with Firstplus. She then started struggling with the debt £400 per month on top of her Mortgage single parent etc. Case defaulted, got a CCJ and a reposession order now Suspended re-possesion order or something like that. She then started to repay and again began struggling with it so First plus then marked it as defaul and passed the debt to Credit Solutions. They have been tootally unhelpful when she tried to negotiate lower monthly payments stating that this wouldn't even pay the interest and charges so £400 was the minimum she could pay. So a few weeks ago I got her to ring Credit Solutions to ask for a redemption figure. The latest statement from them stated the balance to be £5200. They said they had to go back to First Plus. We then received a letter from "Eversheds LLP" reason for quotations will become clear. Panicking she ran Eversheds as the figure in the letter was just over £13000 stating "this includes our charges up to the redemtion date". So panickinng she rang them (Eversheds) who stated " we do not hold an account for you relating to First Plus and have not dealt with them in over 3 years. So confused she rang First Plus who stated yes this included interest and charges from Eversheds . The reason CS held the balance as £5200 was because the interest and charges had been frozen?? Confusing. She advised that she had been offered a bit of cash from her father and was wanting to make an offer. The Firts Plus agent advised to write in explaining her circumstances and with an incomne and expenditure sheeet and this would go before managers. So we did that, explaining that she has been struggling, detailing stress and problems at home as she has a disabled child too and sent an offer of £3000 for full and final settlement. we hear nothing for just under 2 weeks when yesterday a letter arrives from First Plus saying following your correspondence the debt has been passed to Credit Solutions????? And to contact them. your correspondence has been passed to them also she rang Firstplus stating she had sent a letter offering a full and final settlement as THEy had asked. The agent said that it looked as if proper process had not been followed, explaining it should have gone to a manager etc. Again my gf pointed out the Eversheds, Oh yes that will include their charges again she says. To which my gf advised of the call to Eversheds who had nothing to do with it. The agent than said yes the debt really should not have been handled like this but you will have to contaft CS. This all sounds to me like they have really messed this up and leaves us open for a complaint. Also we do not know if they have passed the letter to CS reegarding the F+F Offer. Does anyone have any advice on what we should do, and if we have decent grounds to get CS to accept the F+F offer? I also think CS will bounce it back to First Plus. All very confusing . Writing this just before leaving work so if it is a little rushed this is why. But we are foaming and just wanting to clear this debt with the £3000 we have sitting waiting for them. Any advice appreciated. Many thanks
  8. Hello all My problem in a nutshell: I've just sold my house and was flabbergasted to receive not one but two exorbitant redemption statements from my first and second mortgage companies, although the names of the lenders will no doubt surprise no-one here: First Mortgage - Paratus AMC (interest only) - Balance approx. 160,000, 'Arrears, Arrears Interest and Fees' almost £4,000 (I'm pretty sure there are no longer any actual arrears) Secured Loan: FirstPlus - Borrowed 50,000, Balance - 27000, Settlement figure **43,000** - I thnk I must have a share of Vorderman's plane included in that I was in arrears for a while after being unemployed for around a year between 2009-2010 and made payment arrangements with both companies and it appears to me that they have been profiteering from my misfortune and my lack of understanding of how they operate, ever since. I can't stop the sales process (we'll complete tomorrow all being well), but I'm hoping there may still be something I can do after redemption. Any pointers as to the appropriate forums for these matters (if this one isn't) - and advice on getting some redress - would be very welcome. I've had a look around, but unsure. Thanks BankSqueezed
  9. Every 2 or 3 months we get a refund cheque from Firstplus for amounts varying between £30 and £80 because we have over paid the account. This very annoying as we are trying to reduce the interest on the account which ahs another 3 years to run. We are paying every 4 weeks £70 as after a settlement payment we were left with a £5900 outstanding in 2006. How can we get around this as it is very annoying as we would like to be paying at least £140 or more a month. We tried this previously, but gave up as they would simply refund us. I am not sure if the money would stay in the account if we did not cash the cheque and the interest reduced accordingly or how they manage the account. Can any one offer any advice? Thanks.
  10. Hi there and thank you for letting me be part of this awesome forum. I have a question which I would be greatful if anyone could give me a definitive answer to. I took out a loan through FP with CT Capital being the broker in 2006 against my property for 35000 5 years ago I joined the many and claimed the mis sell of PPI. I received back 4500. However my loan amount barely reduced after they said they had removed the PPI. I believe I am still paying the interest on it. Can I go at them again either FP or CT to get this removed altogether? Many Thanks in advance G
  11. Hello Everyone, my history is in these threads: http://www.consumeractiongroup.co.uk/forum/showthread.php?431538-First-Plus-Mortgage-**PPI-WON** http://www.consumeractiongroup.co.uk/forum/showthread.php?431539-First-Plus-going-for-repo-**WON** Well I am back again and i need some advice and someone who can work out the payments that I have made. One again I find that I am being harassed into going to court but this time I am stronger and willing to put the fight in for all those poor souls who have had their life ripped apart by these sharks in the financial community. I have asked them continually to inform me of the interest rate I am on. I find that the PPI is still being included with in my loan. They have lodged a default on my account despite the fact that I have being paying by standing order every month. this looks like I have failed to pay. I am now trying to get another mortgage and I cant because of this unfair penalisation. I really want/need to fight this battle and I am prepared to put my all in sorting this dreading situation. 2me2u2
  12. Hi there, Looking for a little advise if possible please. We took out a loan many years ago 2004 roughly for 35000. We would like to sell our home and have a potential offer for the house we'd like to accept. However.. We thought we would be able to cover the costs with the sale as first plus said we only had 11300 (roughly) outstanding.. This took a while to even get as they kept sending us to Evershed and then evershed would say not us go to first plus.. Very annoying. . They said that it was minus interest but the total figure cam in today just say £29,689.07 which makes the interest near 20000 to settle early.. ?? There was no breakdown and figure cam from evershed and not first plus whom I ask for the settlement amount. Question does this seem ridiculously high? Can I go back to evershed and say please be sensible we all want our money and can we come to a better arrangement, Not got the contact to hand right now but can dig out if there is anything else you needed to help me out. Please help as I really want to clear and move out of current house for fresh start with my family.. There is money in the house, main problem I need that as deposit for new place...
  13. Hi we have been waiting for Firstplus to do something for a couple of years now and they have not, this is after a protracted claim and counterclaim got struck out in 2011 (we have not paid them for 6 years now) I am assuming that as they have not acted they cannot The order is headed "general form of judgement or order" and states "the matter be stayed with liberty to apply to restore by . ... in default of which the claim and counterclaim will be struck out without further order" Can I apply to have the legal charge removed and if so how?
  14. Hi all, I could do with some advice on our secured loan with First Plus which is for £30 K (plus PPI of £8K ) taken out end of 2003. Firstly we are having no luck reclaiming the PPI, we have been trrying since 2007, FP claim we bought loan and PPI through broker Central Trust even though we were an existing FP customer at the time and got a call from who we thought to be FP offering a further advance on loan, we were deceived into thinking we were speaking to FP when we were not !! FP will accept no responsibility for PPI as sold through Central Trust ( even though they must have given them our info as they called us!) Central Trust were not regulated at the time so wont do anything, we still have an official complaint with fos which is now being fast tracked due to hardship but FOS have already told me it is very unlikely they can help as they have no jurisdiction !! Shortly after taking out the loan I became ill which then got worse and I am now disabled and my husband is my fulltime carer, we have 3 kids and our house has been specially adapted for my disabilities hence why we really need to stay here. We also have a main mortgage with Barclays which is up to date. Over the last few years we have awful problems meeting the monthly payments and the account was passed to and fro different debt collectors who just kept on telling us to make reduced payments etc and in the meantime we heard nothing from FP, no statements or letters about arrears or how we would pay them back etc. 2 years ago we started getting some help with mortgage interest from DWP so we have since been paying our full monthly payments plus some off arrears and again heard nothing from FP to say this wasnt acceptable . In June this year completely out of the blue we got a default notice from them demanding we pay them back the arrears of £8000 etc, I called them and for once spoke to a very nice lady who set up a proper arrangement to pay our monthly contractual amount plus £130 per month off the arrears, this would clear the amount in approx 2 years, they would not consider spreading it over alonger period !! we are now paying more for this loan than we are our main mortgage for over £100k !! We have been paying it as arranged but we had a hiccup last month as we have absolutely no savings or credit cards etc and needed to buy kids school uniform for them to be allowed back to school I called FP spoke to a lady who said thats fine as long as you pay by end of week you wont break arrangement (they claim she said to pay by the 5/7 which was a thursday but I am sure we agreed end of week and I paid on 7/7) the account is now up to date until end of this month. To our shock we then got a default notice dated the 9/9, thinking it was a mistake I called them straight away, really horrible woman said it was correct we had broken agreement and there was nothing she could do and that our account had been sent to Eversheds, their solicitors who would be seeking a suspended possession order, she refused to put me through to manager or even the complaints dept I have raised an official complaint on the grounds that it is very unfair of them to do this to us when we had notified them, they agreed and we paid when arrnaged, so far I havent heard back from them. I am beside myself with worry and my health is being really affected by it, not only does it seem that due to the fact we were lied to by FP and contacted by an unregulated broker we are stuck with the useless PPI and all the interest charged upon it, but now they seem hellbent on repossessing our home! We have infact paid them over £1800 off arrears since June as we also gave them a lump sum of £1500 we borrowed from a family member, arrears are apparently £6400, there is no way we can raise that kind of money but can happily continue the current arrangement, what do you think the chances are of a judge granting them a suspended possession order when we are not saying we cant or wont pay, I wouldnt care if we just didnt bother too ask them if it was ok but we did !!! Any help very gratefully received, thanks so much everyone
  15. To cut a long story short. In Nov 2004 we took a consolidated loan for £53,000 with Firstplus over a period of 15 years as at the time I was fit, working and aged 55 years. Wife was 52 years old. Repayments were about £600 per month. This meant the loan would finish in 2019. We have paid off the majority of the loan as we had to sell up, but there is still £4000 outstanding which is being paid off at £70 per month and will run until 2019. However both the wife and myself would have been "officially" retiring on state pension next year, however at moment due to disabilities we are on Pension Credit and the £70 payment is a PITA. If we were fit and well and retired in 2014 as originally planned, surely FP should have been aware of this when they offered us the loan and would have known that there is no way we would have been able to afford paying in nearly £600 per month out of a state pension payments? Could this be regarded as irresponsible lending and is there anything we could do as we have more than paid back the debt as it is only interest we are paying?
  16. Sorry for the title but I've had all I can take from Firstplus and their unprofessional staff now!!! We originally took out a loan in 2008, which was set-up through the now extinct "Loanmakers". We were told we had to have PPI and in our financial situation I couldn't argue it, although I did not want it. The details: Original cash loan amount: £38000 Original PPI loan amount : £5506.20 Original fees amount: £995.00 Original total loan amount: £44501.20 Original loan agreement date: 15/08/2008 Agreed loan term: 25 years and 0 months Annual interest rate was 8.6% and then went up 1% to 9.6% 15/8/2010. My original loan form shows: cash loan £38000 + PPI loan £5506.20 = total of £43506.20 Monthly repayments (x300): £308.17 + ppi £44.66 = £352.83 But at 9.6% I pay £380.12 per month. We called Firstplus in 2011 and tried to cancel and reclaim our PPI, they said that even though we pay them the loan was set-up by Loanmakers and not their problem, but if we kept the PPI for the 5 year term we'd get £5506.20 cash back. So, stupidly we did, and now they say that because it's a tailored loan, we do not get the cashback and we never made any calls ever to them!!!! Just as we expected a cheque for £5506!! So, today I called the FSCS, they are sending me out a claim form against loanmakers as they're no longer in business. Have I done the right thing? What happens when it gets sorted/refunded, how do I go about restructuring my loan and repayments with Firstplus when they will not play ball? How much money should I expect back or accept? Any help appreciated as I'm in unknown territory here!!! Kind regards Cliff J
  17. Hi Not entirely sure if this is the correct forum for this type of post however, any advice would be greatfully received. I am currently in an interlocking IVA with ex hubby, in joint property with 2 children with morg and secured loan. House worth 100k approx, first charge owed 94k second 50k so as u can see major neg equity, loan was given in 2005 when they were giving 120% ltv. Meantime husband left me with 2 children and cannot pay both liabilities and neither can he as he is now paying for rented flat. Went to shelter for advice they recommended MRS, first charge agreed no problem and to a 27k shortfall, Firstplus refused based on figures they amended themselves on our i&es and a valuation they say is 15k more than anyone elses. I understand they stand to lose 50k which is a massive amount of money however, in whatever circumstance they gain to get nothing and actually if they agreed to MRS i can put it into my current IVA arrangement and they will get a return albeit small. If the house is sold market value they will get nothing likewise if it gets repossessed. So altho i can see their issue they stand to benefit nothing at all by blocking the scheme, they are putting me and my family on the streets for nothing and its very frustrating, i have asked for a review and provided written backing from Shelter, my LA and Insolvency Practitioner all trying to point out from different angles the situation but as yet they still wont bend. I can no longer pay the loan so just making sure the first charge get paid as they have been fantastic and very supporting, so going to get alot of hassle now and they will more than likely go for repossesion however, not sure how a court would take it given ive accepted i have a problem, tried to address it and FP have said no. I realise the ombudsman cannot make them overturn their decision but my solicitor said they can make it known what the beat course of action is maybe that may help i dont know. I also intend to go to the Financial Ombudsman and realise that he cannot change minds but strongly reccommend they do. Very worrying times any thoughts would be great.
  18. I was informed on Friday that my Firstplus loan has now been rescheduled following a Successful PPI claim. Does anyone know how soon after the rescheduling will I receive my cheques. I have been told to contact on Wednesday if I had not heard anything but just wanted to know what sort of timescale I was looking at. Thanks.
  19. Hi. Has anyone had any experience of reclaiming ppi through Firstplus. I have recieved the acceptance forms and posted them back with the reassurance they will pay within 28 days by cheques. Is this the case or am I in for the long haul.x
  20. In November 2004 we took out a loan for £53300. We sold in February 2006 and repaid £48411. There was still an outstanding balance of £5773. We have been paying approximately £70 per month since then to pay off the balance. Adding up our all our credits to date shows we have paid a staggering £87887. That is Eighty seven thousand and eight hundred and eighty seven pounds! We still owe about £4400 to settle the account! On the outstanding balance alone we have paid £5168! I wish there was some way we could get rid of this debt. The last payment is due in November 2019 6 years after we are on state pension! Surely some mis-selling going on because as pensioners how would be have been able to afford a repayment of nearly £600 per month?
  21. Hi all, I'm fairly new to this posting threads business so please bare with me if i am doing this wrong! I have been trying to claim back the PPI on a first plus loan that I took out in 2005 for some time. My first complaint was after I found out that the PPI was front loaded on to the whole term of the loan 10 years. .even though you are only protected by it for the first 5 years. My second complaint came when I found out that any pre existing medical conditions would not be covered by the PPI although no medical questions etc were asked. I have written to them a number of times but with no joy, I then went to a claims company who said as I had already claimed directly to the company they would not be able to claim again on my behalf. My only other option it seems is the Ombudsman but feeling slightly overwhelmed by it all!! Has anyone else had similar dealings with them and had any success? or do you have any tips feel slightly lost with it all now!!
  22. HI i have a first plus loan which was taken out just under 5 years ago. i visited their site to claim back my ppi the loan was FOR about £13k and they added the ppi loan of about 2500k. i was paying aroud £168 amonth back. they have now said that that i was misssold and are offering the following : a refund of £1680 + *% interest also the will take 250k ppi + intrest of the loan my payments will be to around 140 a month its this correct or should i get the whole of the ppi money and my payments stay the same? the £1680 is the 140 - 168 =28*12 =336*5 any help would be grateful and hope this make sense as i went through their site and not the FOS or any ppi comapny thanks in advance
  23. Hi, Try to make this brief, my ex and I seperated 5 yrs ago and he ran up many debts, one I reluctantly agreed to have secured on my home soley in my name but the loan was in joint names, I struggled to pay the loan for a year, I have two disabled children and on income support at there carer. my ex refused to pay any amount to the loan or CSA or even see the children, he cleanly walked away. I went to the CAB and they contacted first plus and agreed a smaller amount which I have paid every month without fail for 4yrs, the arrears are now 8K and they want to start possession, they stopped taking payments in Feb2012 the CAB have tried to reneog with them but they havent responded, I have now gone to them with an offer of the orginal amount plus an extra amount of the arrears, do you think they will accept this, its been two weeks now and they havent responded, I thought under the laws they couldnt start possession if my mortgage is paid via DWP and if I make a fair offer they need to either accept or decline within 10days, is this correct.....I am at my wits end, this is making me very ill, I feel so let down that my ex could leave us in such a mess....I also feel its unfair...I have always paid the mort and paid my half of the loan, (which only has two more years to go)...I cant beleive we face loosing our home because of the debt he left behind.
  24. Hi, Please could somebody advice. I took out a loan via Norton finance with firstplus in Nov 2007 for 10 years. The monthly ppi payment for the loan are £87.62 and the ppi only runs for 5 years of the 10 year loan so ends this November coming. I have successfuly made a ppi claim via the FSCS and they have compensated me for, and i quote "the compensation aims to put you back in the financail position you would have been in had you not received the insurnance advice. The compensation only covers actual losses. It does not aim to cover future losses." I have received £2617 from the FSCS. Question One. Am i still elligible to claim my 'no claims bonus' back with First Plus in November or does the money paid by the FSCS inlcude this? Question Two. I'm still going to be paying £87.62 ppi payments for another five years for nothing (as the term was five years) . Can i cancel this insurance and reduce my month repayment by the ppi payment (£82.62)? If so will i get charged by firstplus for cancelling? And will the effect my 'no claims bonus' ? Question Three. If the FSCS have deemed that the policy was missold, shouldn't firstplus stop taking my £87.62. Please reply if you can help me. Thanks, Andrew
  25. Hi, I was wondering if I could get some advice on this - I took a secured loan in 2006 with First Plus, at the time I was self employed and was for a period of three to four years after the loan was started. I didn't realise the situation with regard to PPI specifically the exclusions around self employment status. The loan is still trundling along now and I would like to know if anyone believes this would substantiate a PPI claim against FP, for the reason above - I dont ever recall being asked around employment status at the time. Any thoughts around this very welcome.
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